Aero Engine Services Ltd Filleted accounts for Companies House (small and micro)
Aero Engine Services Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
12396269
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FINANCIAL STATEMENTS |
Period ended 31 December 2020
CONTENTS |
PAGE |
Balance sheet |
1 |
Notes to the financial statements |
3 |
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BALANCE SHEET |
2020 |
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Note |
$ |
FIXED ASSETS
Intangible assets |
5 |
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Tangible assets |
6 |
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------- |
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CURRENT ASSETS
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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--------- |
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CREDITORS: amounts falling due within one year |
8 |
(
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NET CURRENT ASSETS |
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-------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
9 |
(
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PROVISIONS |
(
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-------- |
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NET ASSETS |
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-------- |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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---- |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
20 August 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
12396269
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NOTES TO THE FINANCIAL STATEMENTS |
Period ended 31 December 2020
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 13, Jr Business Centre Main Avenue, Treforest Industrial Estate, Pontypridd, CF37 5UR.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Turnover
Taxation
Foreign currencies
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Quality Manual |
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33% straight line |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
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33% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Provisions
Financial instruments
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
3
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5.
INTANGIBLE ASSETS
Quality manual |
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$ |
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Cost |
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Additions |
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------- |
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At 31 December 2020 |
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------- |
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Amortisation |
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Charge for the period |
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------- |
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At 31 December 2020 |
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------- |
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Carrying amount |
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At 31 December 2020 |
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------- |
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6.
TANGIBLE ASSETS
Equipment |
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$ |
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Cost |
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At 1 January 2020 |
– |
Additions |
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------- |
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At 31 December 2020 |
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------- |
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Depreciation |
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At 1 January 2020 |
– |
Charge for the period |
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------- |
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At 31 December 2020 |
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------- |
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Carrying amount |
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At 31 December 2020 |
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------- |
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7.
DEBTORS
2020 |
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$ |
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Trade debtors |
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Other debtors |
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------- |
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------- |
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8.
CREDITORS:
amounts falling due within one year
2020 |
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$ |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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9.
CREDITORS:
amounts falling due after more than one year
2020 |
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$ |
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Bank loans and overdrafts |
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Included within creditors: amounts falling due after more than one year is an amount of $8,195 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is $54,147 due to directors. These balances are interest free and repayable on demand.